GREEN
BAY, Wis., May 15, 2023 /PRNewswire/ -- Nicolet
Bankshares, Inc. (NYSE: NIC) ("Nicolet") announced that its Board
of Directors has declared its first quarterly cash dividend of
$0.25 per share to shareholders of
its common stock. The dividend will be payable on June 15, 2023 to shareholders of record as of
June 1, 2023.
"The initiation of a cash dividend represents an important
milestone for our Company," said Mike
Daniels, President and CEO of Nicolet. "The 'Why' behind the
decision goes back to our foundational belief in creating shared
success for Nicolet's customers, employees, and shareholders. While
we remain an opportunistic growth company and will continue to use
our capital to grow Nicolet, both organically and through M&A,
and after discussing this over the years we believe this is the
right time to declare our first dividend. The ability to reward
shareholders while at the same time growing and serving our
customers and employees is the essence of shared success. We thank
the Board and our shareholders for their steadfast belief in
Nicolet's purpose and values."
About Nicolet Bankshares, Inc.
Nicolet Bankshares,
Inc. is the bank holding company of Nicolet
National Bank, a growing, full-service, community bank
providing services ranging from commercial, agricultural and
consumer banking to wealth management and retirement plan services.
Founded in Green Bay in 2000,
Nicolet National Bank operates
branches in Wisconsin,
Michigan, and Minnesota. More information can be found at
www.nicoletbank.com.
Forward Looking Statements "Safe Harbor" Statement Under the
Private Securities Litigation Reform Act of 1995
Certain
statements contained in this communication, which are not
statements of historical fact, constitute "forward-looking"
statements within the meaning of the Private Securities Litigation
Reform Act. Forward-looking statements generally can be identified
by words or phrases such as, without limitation, "anticipate,"
"believe," "aim," "can," "conclude," "continue," "could,"
"estimate," "expect," "foresee," "goal," "intend," "may," "might,"
"outlook," "possible," "plan," "predict," "project," "potential,"
"seek," "should," "target," "will," "will likely," "would," or the
negative of these terms or other comparable terminology, as well as
similar expressions, and in this press release include our
statements about the timing of dividends, the potential for future
dividends, and our expectations to grow Nicolet organically and
through mergers and acquisitions.
Forward-looking statements are not historical facts but
instead express only management's beliefs regarding future results
or events, many of which, by their nature, are inherently uncertain
and outside of management's control. It is possible that actual
results and outcomes may differ, possibly materially, from the
anticipated results or outcomes indicated in these forward-looking
statements. Risks, uncertainties and other factors that could cause
the actual results to differ materially from the statements,
including, but not limited to: (i) deterioration in the financial
condition of Nicolet's borrowers, including as a result of the
negative impact of inflationary pressures on our customers and
their businesses, resulting in significant increases in loan losses
and provisions for those losses; (ii) fluctuations or differences
in interest rates on loans or deposits from those that Nicolet is
modeling or anticipating, including as a result of Nicolet's
inability to better match deposit rates with the changes in the
short-term rate environment, or that affect the yield curve; (iii)
adverse conditions in the national or local economies including in
Nicolet's operating markets; (iv) the inability of Nicolet, or
entities in which it has significant investments, to maintain the
long-term historical growth rate of its loan portfolio; (v) the
ability to grow and retain low-cost core deposits and retain large,
uninsured deposits, including during times when Nicolet is seeking
to limit the rates it pays on deposits; (vi) changes in loan
underwriting, credit review or loss reserve policies associated
with economic conditions, examination conclusions, or regulatory
developments; (vii) effectiveness of Nicolet's asset management
activities in improving, resolving or liquidating lower-quality
assets; (viii) the impact of competition with other financial
institutions, including pricing pressures and the resulting impact
on Nicolet's results, including as a result of the negative impact
to net interest margin from rising deposit and other funding costs;
(ix) the results of regulatory examinations; (x) Nicolet's ability
to identify potential candidates for, consummate, and achieve
synergies from, potential future acquisitions; (xi) difficulties
and delays in integrating acquired businesses or fully realizing
costs savings and other benefits from acquisitions; (xii) risks of
expansion into new geographic or product markets; (xiiii) any
matter that would cause Nicolet to conclude that there was
impairment of any asset, including goodwill or other intangible
assets; (xiv) reduced ability to attract additional financial
advisors (or failure of such advisors to cause their clients to
switch to Nicolet), to retain financial advisors (including as a
result of the competitive environment for associates) or otherwise
to attract customers from other financial institutions; (xv)
deterioration in the valuation of other real estate owned and
increased expenses associated therewith; (xvi) inability to comply
with regulatory capital requirements, including those resulting
from changes to capital calculation methodologies, required capital
maintenance levels or regulatory requests or directives; (xvii) the
vulnerability of Nicolet's network and online banking portals, and
the systems of parties with whom Nicolet contracts, to unauthorized
access, computer viruses, phishing schemes, spam attacks, human
error, natural disasters, power loss and other security breaches;
(xviii) the possibility of increased compliance and operational
costs as a result of increased regulatory oversight, and the
development of additional banking products for Nicolet's corporate
and consumer clients; (xix) changes in state and federal
legislation, regulations or policies applicable to banks and other
financial service providers; (xx) fluctuations in the valuations of
Nicolet's equity investments and the ultimate success of such
investments; (xxi) the availability of and access to capital;
(xxii) adverse results (including costs, fines, reputational harm,
inability to obtain necessary approvals and/or other negative
effects) from current or future litigation, regulatory examinations
or other legal and/or regulatory actions, including as a result of
Nicolet's participation in and execution of government programs
related to the COVID-19 pandemic; and (xxiii) general competitive,
economic, political and market conditions. Additional factors which
could affect the forward looking statements can be found in
Nicolet's 2022 Annual Report on Form 10-K, as well subsequent
filings with the SEC and available on the SEC's website at
www.sec.gov.
All forward-looking statements included in this press release
are made as of the date hereof and are based on information
available to management at that time. Except as required by law,
Nicolet disclaims any obligation to update or revise any
forward-looking statement contained in this press release to
reflect new information or events or circumstances that occur after
the date the forward-looking statements were made.
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SOURCE Nicolet Bankshares, Inc.
